[Form 4] Dillards Inc. Insider Trading Activity

Rhea-AI Filing Summary

Reporting person: Denise Alexandra Lucie, listed as an officer (Vice President) of Dillard's, Inc. (DDS). The Form 4 discloses a transaction dated 08/25/2025 in Dillard's Class A common stock showing an acquisition of 9 shares at a reported price of $533.45. After the reported transaction the filing shows 37,013 shares beneficially owned directly, plus 5,068 shares in a retirement plan (direct) and indirect interests of 38,423 and 13,389 shares described in footnotes as held in trusts where the reporting person is Trustee and Grantor respectively.

Positive

• Insider increased direct ownership by acquiring 9 shares, bringing direct holdings to 37,013 shares
• Full disclosure of indirect holdings with footnotes identifying trust roles (Trustee and Grantor), improving transparency

Negative

• None.

Insights

Financial Analyst

TL;DR: A routine, small insider purchase by a company officer; not material to valuation but confirms insider ownership.

The Form 4 documents a modest purchase of 9 shares at $533.45, increasing direct holdings to 37,013 shares. The filing also details additional direct and indirect holdings including a retirement-plan stake of 5,068 shares and trust-related indirect holdings of 38,423 and 13,389 shares. From a financial-analysis perspective this transaction size is immaterial relative to typical institutional positions and does not indicate a meaningful change in insider exposure or company capitalization.

Corporate Governance Expert

TL;DR: Disclosure is compliant and includes required trust-related beneficial ownership details; transaction appears routine.

The Form 4 correctly identifies the reporting person as an officer (Vice President) and provides ownership breakdowns: direct, retirement-plan, and indirect trust holdings with explanatory footnotes stating a trustee role and grantor role. The presence of trust-related indirect holdings and explicit footnotes aligns with standard Section 16 reporting practices and aids transparency regarding potential control or influence over reported shares.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lucie Denise Alexandra

(Last) (First) (Middle)

1600 CANTRELL RD

(Street)

LITTLE ROCK AR 72201

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DILLARD'S, INC. [ DDS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VICE PRESIDENT

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Class A	08/25/2025		A		9	A	$533.45	37,013	D
Common Class A - Retirement Plan								5,068	D
Common Class A								38,423(1)	I	See Footnote(1)
Common Class A								13,389(2)	I	See Footnote(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Trustee on shares held in Trust accounts.

2. Grantor for shares held in children's Trust accounts.

	/s/ Denise Alexandra Lucie	08/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

Who filed the Form 4 for DDS?

The reporting person is Denise Alexandra Lucie, identified as a Vice President of Dillard's, Inc. (DDS).

What transaction is reported on the Form 4 for DDS?

An acquisition on 08/25/2025 of 9 shares of Dillard's Class A common stock at a price of $533.45.

How many Dillard's shares does the reporting person beneficially own after the transaction?

The filing shows 37,013 shares beneficially owned directly after the reported transaction, plus 5,068 in a retirement plan and indirect trust holdings of 38,423 and 13,389 shares.

What do the footnotes on indirect holdings state?

Footnote (1) states the reporting person is Trustee on shares held in Trust accounts; footnote (2) states the reporting person is Grantor for shares held in children's Trust accounts.

Is this Form 4 filing joint or individual?

The form is filed by one reporting person (individual filing).